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Secondary Recommendation

Centamin Egypt - Exciting new gold producer targeting half million oz by 2012

December 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • CEY
  • Price:
  • 133p
With investors continuing to pile into gold shares following another record month for the precious metal, one stock worth tracking is fully listed Centamin Egypt, whose sole gold mining property in the Eastern desert of Egypt, contains proven and probable reserves of 6.4m oz and total resources of more than 13m. That immediately puts it amongst the largest and most valuable assets not owned by any of the majors who may yet attempt to take it over in a bid to increase their own reserves. However, in the meantime Centamin is focusing on exploiting this asset to the full with production, which only started in June, expected to reach 200,000 oz next year before accelerating  again to 500,000 oz by the end of 2012.  Although ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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